Gold price on May 9: Continued to decrease by another 1 million VND/tael

Illustration photo. Photo: Internet

Updated at 9:15 a.m., Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 115.5 - 118.5 million VND/tael (buy - sell), down 1 million VND/tael in both directions compared to the end of the previous session.

At Saigon Jewelry Company SJC and DOJI Group, gold bar prices were listed at 117.5 - 119.5 million VND/tael (buy - sell), down 1 million VND/tael in both directions compared to the previous closing price.

Meanwhile, the price of gold rings at SJC is at 113.5 - 116 million VND/tael (buy - sell), down 500,000 VND/tael in both directions compared to the previous session.

In the international market, gold prices also continued to fall sharply, losing more than 1% in the trading session on May 8, after US President Donald Trump announced a trade agreement with the UK, raising expectations of similar agreements with other countries.

Specifically, the spot gold price closed down 1.7%, to $3,307.84/ounce at 18:22 GMT (1:22 a.m. May 9, Vietnam time). The US gold futures price also fell 2.5%, to $3,306/ounce.

US President Donald Trump and British Prime Minister Keir Starmer have announced a “breakthrough deal” on trade, under which the US will maintain a 10% tariff on imports from the UK, while the UK will agree to lower tariffs from 5.1% to 1.8% and open up more to goods from the US.

“If the US and China also reach an agreement, gold will be under great pressure and may retreat to at least $3,200 an ounce,” said Bob Haberkorn, senior strategist at RJO Futures.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are scheduled to meet with senior Chinese economic officials on May 10 in Switzerland.

Previously, gold prices had recorded many records due to concerns about Mr. Trump's tax policy, because this precious metal is often considered a safe haven in times of geopolitical instability.

Gold holdings in London vaults rose in April 2025 as more shipments returned from New York after a period of market volatility. Many institutions had previously moved gold to the United States from December 2024 to March 2025 to hedge against the risk of US tariffs on imports.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-9-5-tiep-tuc-giam-them-1-trieu-dong-luong/20250509100037436